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The surprising $20b boost to the budget as China stockpiles iron ore – Sydney Morning Herald

Iron ore hit a record $US200 a tonne on Friday as concerns about Beijing’s dispute with Canberra prompt China’s importers to store up the critical resource.

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In the medium to long term, that may change … the important thing we need to do is make sure we are a reliable and good supplier to our customers in China.
Kaho Yu, a principal analyst at Verisk Maplecroft said deteriorating relations will likely drive Beijing to diversify supply away from Australia, especially of resource commodities it sources primarily from the latter.
But Wood Mackenzie senior economist Yanting Zhou said China was unlikely to ban imports of Australian commodities that they…

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